Tagged: binance

Binance Labs Invests in Zest Protocol to Provide On-Chain Bitcoin Lending via Stacks Blockchain

Binance Labs, the venture capital and incubation arm of Binance, has invested in Zest Protocol, an on-chain bitcoin lending infrastructure enabling users to lend or borrow native BTC with transparent yields in a permissionless way. Existing solutions have been largely “dependent on centralized entities with… Read More

India Approves Binance and Kucoin for Cryptocurrency Trading

The Financial Intelligence Unit (FIU) of the Indian government has granted Binance and Kucoin, offshore cryptocurrency exchanges, the approval to register and operate as virtual asset service providers in India. This pivotal decision allows them to engage in a broad array of digital asset services,… Read More

Canada’s FINTRAC Imposes Administrative Monetary Penalty on Binance Holdings Ltd

FINTRAC announced that it has imposed an administrative monetary penalty on Binance Holdings Limited, also operating as Binance Holdings (IE) Ltd., Binance.com, Binance Global and Binance. This foreign money services business was “imposed an administrative monetary penalty of $6,002,000 on May 7, 2024 for non-compliance… Read More

Binance Labs Invests in MilkyWay to Enable Modular Liquid Staking

Binance Labs, the venture capital and incubation arm of Binance has invested in MilkyWay, a liquid staking protocol for Celestia’s modular blockchain ecosystem. MilkyWay aims to be the leading provider of modular liquidity “for rollups that rely on Celestia for Data Availability by unlocking TIA… Read More

Binance Founder Changpeng Zhao or “CZ” Gets Sentenced to Four Months in Prison

Binance founder and former CEO Changpeng Zhao (CZ) was sentenced to four months in prison last November after pleading guilty. Zhao was also required to pay a $50 million penalty. According to WSJ.com, Zhao told the court he was sorry for his behavior and regretted… Read More

Binance Reportedly Dominates Market Share of Centralized Crypto Exchanges by Trading Volume Despite Regulatory Challenges

A new report from CoinGecko has looked at the latest market share of centralized crypto exchanges in terms of digital currency trading volumes. Binance has reportedly remained “the largest centralized exchange (CEX), with its market share at 49.7% in March 2024. Its spot trading volume… Read More

US DOJ Seeks 3-Year Prison Sentence for Binance Founder Changpeng Zhao

Zhao Changpeng

The United States Department of Justice is reportedly seeking a 36-month prison sentence for Binance founder and former CEO Changpeng Zhao, or “CZ.” US prosecutors are said to be seeking a potential 3-year prison sentence for Changpeng Zhao, who is the founder Binance, the world’s… Read More

Philippines SEC Reportedly Orders Apple and Google to End Support for Binance Services from App Stores

The Securities and Exchange Commission (SEC) in the Philippines has announced that it wants Google and Apple app stores to remove the Binance app. The Securities and Exchange Commission (SEC) in the Southeast Asian country is reportedly working with tech giants Google and Apple for… Read More

Binance FZE Reportedly Obtains VASP License from Virtual Assets Regulatory Authority (VARA) in Dubai

Binance is pleased to announce that Binance FZE, their Dubai subsidiary, has received a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). Following the initial issuance of the Minimum Viable Product (MVP) license in July 2023, this marks “a significant… Read More

European Universities and Binance to Offer Accredited Web3 and Blockchain focused Courses

Binance Academy, the crypto learning hub of Binance, has partnered with European educational institutions to launch a series of paid university-accredited courses. Their curricula will cover key topics and disciplines of blockchain and Web3, “offering learners a deep understanding of the digital-asset space.” By offering… Read More

Binance Joins Global Travel Rule Alliance to Enhance Interoperable Compliance and Security

Making crypto compliant with existing regulatory frameworks and interoperable with traditional legal and financial systems is “an enormous yet hugely worthwhile task,” according to Binance, which remans the world’s largest crypto exchange in terms of trading volume and overall scope of operations. This, despite having… Read More

Nigerian Authorities Seeking to Extend Detention of Binance Execs

Nigeria is reportedly planning to further extend the detention of Binance executives. As reported by Reuters, Nigerian authorities have requested an Abuja court to prolong the detention of key Binance executives who are allegedly now part of the nation’s wide-ranging cryptocurrency crackdown. This, after an… Read More

Binance Labs Announces Investments in High-Potential Web3 Initiatives

Binance Labs, the venture capital and incubation arm of Binance, has invested in seven top-performing projects from the sixth season of its Incubation program. The 2-month incubator which “commenced in December 2023, is designed to empower early-stage founders offering 1:1 mentorship from the Binance Labs… Read More

Nigeria’s Crypto Clampdown: Binance Withdrawal Sparks Concern

The departure of cryptocurrency giant Binance Holdings Ltd from Nigeria has raised concerns among experts and cryptocurrency enthusiasts about its potential to exacerbate youth unemployment in the country. The firm announced last week that it would cease all operations for the Nigerian naira, discontinuing support… Read More

Binance Reports Net Inflows of $3B+ Between Late Nov 2023 and Late Feb 2024, Claims it Outpaced Competitors

Since stepping in as Binance CEO, Richard Teng  (who replaced former CEO Changpeng Zhao), has reportedly made it a priority to ensure and maintain the user-focused principles of Binance across the company, with the primary emphasis being on ensuring stability. According to Richard Teng, in… Read More

Binance Labs Invests in Babylon to Support Bitcoin Staking

Binance Labs, the venture capital and incubation arm of Binance has invested in Babylon, a Bitcoin staking protocol that supports the concept of native Bitcoin staking allowing users to stake bitcoins for PoS blockchains and earn yields without any third-party custody, bridge solutions or wrapping… Read More

Binance $4.3 Billion Penalty Approved by Judge

Binance, the largest crypto exchange in the world, must pay $4.3 billion in penalties in a settlement previously announced. According to multiple reports, the judge handling the case approved the guilty plea and the penalty.  The settlement was revealed last November and included the exit… Read More

Binance to Delist Aragon (ANT), Multichain (MULTI), Vai (VAI), Monero (XMR)

Binance announced that it will delist several crypto tokens, including privacy coin Monero. The list includes ANT, MULTI, VAI, and XMR, which will be removed on February 20th, 2024. Binance claims it regularly reviews each digital asset it lists to ensure that it “continues to… Read More

Binance Appoints Steve Christie as Deputy Chief Compliance Officer

Binance, which agreed to a massive $4.3 billion+ settlement with US regulators yet continues to face major operational challenges globally,  is pleased to welcome back their former Senior Vice President of Compliance Steve Christie, who is taking on the role of Deputy Chief Compliance Officer… Read More

Binance Labs Invests in Puffer to Enable Decentralized Liquid Restaking

Binance Labs, the venture capital and incubation arm of Binance, has invested in Puffer, a decentralized and permissionless native liquid restaking protocol (nLRP) that combines Ethereum liquid staking with native restaking on EigenLayer. The invested funds will be used “to develop Puffer’s open-source technologies, its… Read More